Imagine your loved ones being forced into court battles, your children caught in a custody tug-of-war, or your beloved pets ending up in a shelter—all because you didn’t take the time to create a will. Without one, critical decisions about your estate, your children, and even your pets will be made by the courts—not by you.
At Vick Law, we’ve seen how devastating it can be when families are left without clear instructions from a will. Don’t delay having a will prepared by an experienced estate planning attorney, warns a frank article from Barron’s, “What Happens if You Die Without a Will? You Could Leave Heirs—and Pets—With Even More Grief.” It doesn’t matter if you have modest assets or significant wealth—estate planning isn’t just about money; it’s about protecting the people (and pets!) you care about. Our experienced estate planning team is here to help you create a personalized plan that gives you peace of mind and ensures your wishes are honored.
Why a Will is Essential
Without a will, the court steps in to distribute your assets, decide who raises your children, and handle everything else. Here are some key risks:
- Your heirs may face confusion and grief. A probate court will decide who inherits your assets, which could result in legal battles, delays, and unintended outcomes. A family member embarking on a search to identify property might be able to glean some information from the prior year’s tax returns. They’ll still first have to find the tax returns and then go to court to be appointed administrator of your estate. If you have digital assets, including cryptocurrency, and haven’t made a plan for someone to take control and manage those assets, your family may never see those assets. Having assets titled with preferred beneficiaries is as important as having a will. Retirement accounts with named beneficiaries, including 401(k)s, supersede directions in a will. If most of your wealth is in a 401(k) or other accounts with the ability to name a beneficiary, make sure that those names are correct.
- Your children could be the center of family conflict. If both parents pass away, the court will decide who raises your children, potentially pitting family members against each other. If you have children, and especially if they are still minors, you want to have a will to explicitly state who you want to raise your children if both parents die. While other family members can petition the court for guardianship, your children could become the center of a family blowup if more than one person wants to take custody.
- Your pets may have no one to care for them. No one is legally required to take in your pets, and they could end up in a shelter. If you care about what will happen to your pet, you must also plan for them. Even the most well-intentioned family member isn’t required to take your pet into their home. Shelters have many senior dogs and cats left behind when their owners die and are less likely to be adopted than kittens or puppies. Most states allow you to create a pet trust, where you set aside funds for the care of your pet and name a person to be the pet’s guardian and another person to be in charge of the trust. You can name the guardian to be the same person as the trustee, or you can keep the roles separate.
If you have digital assets, like cryptocurrency, and haven’t named someone to manage them, those assets could be lost forever. Similarly, assets without designated beneficiaries may end up in the state’s unclaimed property department.
How Vick Law Can Help You Plan
At Vick Law, we make the process of creating a will straightforward and stress-free. Here's how we can help:
- Drafting Your Will: Ensure your assets go to the people you love, not to the state or an unintended heir.
- Naming Guardians for Children: Choose who you trust most to raise your children and avoid custody disputes.
- Planning for Pets: Create a pet trust to provide funds and a guardian to ensure your furry friends are cared for after you’re gone.
- Updating Beneficiaries: Make sure all retirement accounts, life insurance policies, and bank accounts have the correct beneficiaries.
- Planning for Digital Assets: We’ll help you name a trusted person to manage cryptocurrency and other digital assets.
Protect Your Loved Ones with Vick Law
Delaying your estate planning can lead to unnecessary stress, grief, and even financial hardship for your family. At Vick Law, we take a compassionate, personalized approach to ensure your loved ones—and even your pets—are protected.
Don’t leave your family vulnerable. Call Vick Law today to schedule a consultation and start the process of creating your will. With our guidance, you’ll have peace of mind knowing your wishes will be honored and your loved ones cared for.
Reference: Barron’s (Dec. 6, 2024) “What Happens if You Die Without a Will? You Could Leave Heirs—and Pets—With Even More Grief”
